Aberdeen Standard Investments (ASI) has launched its first fixed maturity bond fund after raising $167 million (€152 million) during September from clients in Asia and Europe.
The product, called the Emerging Markets Bond Fixed Maturity 2023 Fund, will invest in bonds with matching maturities to the term of the fund.
Bonds are drawn from government and corporate sectors.
Campbell Fleming, global head of distribution at the firm, said the fund would act as a sustainable source of income at a time of record low yields that leave investors with the increased risk of eroding their wealth over time.
He said other fixed maturity products – or “FMPs” – would be launched.
“The long-term aim is for the Emerging Markets Bond Fixed Maturity 2023 Fund to be the first in a series of FMPs – capitalising on the breadth and depth of our fixed income platform – we launch to help meet the needs of investors around the world.”
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